Powell Likely to Stay at the Fed After Trump’s Push
TL;DR
Powell’s term as Fed chair ends in May, but he can remain on the Fed board through 2028. Despite Trump’s attempt to push him out, a DOJ probe may actually increase Powell’s motivation to stay, preserving the central bank’s independence. Any replacement would require Senate confirmation, and if a chair isn’t confirmed by Powell’s departure, the Fed board could appoint a temporary chair. The outcome hinges on who Trump would nominate and the Senate’s actions.
- Trump tried to give Powell one last shove out the door. Now he’s likely to stay at the Fed. MarketWatch
- Powell, an Unlikely Foil, Takes On Trump The New York Times
- Mixed signals and suspicions fueled clash between Fed and prosecutors The Washington Post
- A private memo from central banks to governments The Economist
- Criminal investigation raises key question: Whether Chair Powell leaves Fed in May AP News
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